The board of Northeast Indiana Bancorp, the Huntington-based parent company of First Federal Savings Bank, has declared a special cash dividend of 75 cents per share payable Dec. 21 to shareholders of record on Dec. 7.
“For the fourth year in a row, the bank’s earnings and capital levels have allowed the board of directors to issue a special cash dividend,” Michael Zahn, president and CEO, said in a statement.
“During that period, over $2.7 million in special dividends have been returned to our shareholders.”
NIDB’s stock had a book value of $30.59 per share as of Sept. 30, with 1.2 million shares outstanding.
In other bank dividend news, boards for Wabash-based FFW Corp., parent company of Crossroads Bank, and for Muncie-based First Merchants Corp., parent company of First Merchants Bank, declared regular quarterly dividends in November.
The First Merchants board declared a dividend of 22 cents per share payable Dec. 21 to shareholders of record on Dec. 7.
The FFW board declared a dividend of 21 cents per share payable Dec. 28 to shareholders of record on Dec. 14.